As per our post on Sunday, not much has changed.
We are still bullish on Gold provided the price remains above 1750.00
Gold is currently at a critical point, close to a descending trend line , below 50EMA and at a resistance zone where price back in July 2020 spent 9 days moving sideways before breaking out. We could be repeating similar price action and move rangebound before we see a breakout.
Every time Gold drops below 1800 it is immediately finding support and the price is pushed back up.
Seasonally Gold is bullish from next week.
we believe a breakout to the upside is on the horizon.
We are still bullish on Gold provided the price remains above 1750.00
Gold is currently at a critical point, close to a descending trend line , below 50EMA and at a resistance zone where price back in July 2020 spent 9 days moving sideways before breaking out. We could be repeating similar price action and move rangebound before we see a breakout.
Every time Gold drops below 1800 it is immediately finding support and the price is pushed back up.
Seasonally Gold is bullish from next week.
we believe a breakout to the upside is on the horizon.
